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Europe will Set up Fund to Help Developing Countries Cope with Climate Warming
European leaders plan to set up a fund worth 6 billion euros (approximately S$12 billion) in the next three years to help developing countries cope with global warming and enable progress in the Copenhagen climate negotiations.If countries commit to contributing to the fund at the EU summit in Brussels in the past two days, Europe hopes that this will prompt other developed countries to also contribute funds to support the plan. But with many European countries reluctant to contribute because their coffers are empty, wealthy Western European countries may be forced to allocate the lion's share of the money.
It is understood that Sweden and the United Kingdom, which hold the rotating EU presidency, have pledged to provide assistance to developing countries worth a total of 1.5 billion euros (approximately SGD 3.1 billion) between 2010 and 2012. However, France, Germany, Italy and Poland are reluctant to put forward a specific figure.
Nonetheless, France said it would "contribute generously." German Foreign Minister Westerwelle stated: “We will not issue a blank check to allow other countries to avoid their responsibilities in this regard.” Polish Minister of European Affairs Dov Galewicz said: “No one is willing to pay for Copenhagen. money."
On the other hand, European leaders have vowed to reduce emissions by 20% in the next 20 years. But some leaders have said they are even willing to increase emissions reductions to 30% if other countries agree to set similar emissions reduction targets.
However, this initiative has been strongly opposed by some countries, including Poland, which relies heavily on coal.
